EFT or the Non Fungible Tokens are a new technology that represents unique digital assets, every NFT is unique is collectible in its own way, they cannot be copied and these digital items can be sold, bought, or traded.
These NFT’s might come into the cricketing industry very soon as the startups, Zebi whose CEO is Pruthvi Rao, and Smart cricket, whose founder is Atul Shrivastava has been working on this platform for a long time. They are India’s first blockchain company and have been building a blockchain since 2016. They have worked with Smart Cricket way back in 2018 and launched India’s first NFTs in the middle of 2018.
In 2018, all Pro Kabaddi League playoff tickets were issued as NFTs. In some time, we will be able to buy a certain shot from a match, can trade it with anyone all over the globe, or sell it to anyone 24/7. These NFTs will be the new collectibles in the future just like autographs, bats, helmets, and balls have been till now. These NFTs have generated a good amount of money when Jack Dorsey, the Founder of Twitter sold his first tweet that was from 2006 as an NFT for around ₹20 crores in March. This shows how much potential these things have.
Cricket has always been tolerant towards new technologies like motion sensing, Smart pieces of equipment, Smart bats, etc to help in the evolution of cricket and these NFTs will also be helpful in increasing the credibility and the revenue generated using this technology.
